Canadian real estate sales are up, mortgage credit is growing, but home equity loans are slow? Office of the Superintendent of Financial Institutions (OSFI) filings show debt secured by homes reached a new high in August. The increase in debt is getting slower though, as the segment of credit growth tapers quickly. Loans Secured By […]
Canadian seniors extracting home equity is slowing, but still growing at a high pace. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of reverse mortgages hit a new high in July. The 12-month rate of growth remains unchanged from a month before. However, the month before was still a very large […]
Canadian household debt is seeing growth accelerate once again, and it’s entirely due to mortgages. Bank of Canada (BoC) numbers show the balance of household credit at institutional lenders reached a new record high in August. The growth was largely led by mortgage debt, which is beginning to accelerate. On the other hand, consumer credit […]
Phew! Canadians are over the possibility of home prices dropping, and are back to using their homes as ATMs. Office of the Superintendent of Financial Institutions (OSFI) filings show massive growth for home equity lines of credit in July. The annual pace of growth was the second highest for the month in the past seven […]
The Christopher Columbus of central banks has discovered what everyone knows – Canadians are burning equity. A LOT of it. Bank of Canada (BoC) staff have concluded homeowners are extracting a lot of home equity. Consumption and the economy are boosted by the home equity extracted. However, the more significant the sum extracted, the more […]
Canadian seniors are slowing down on the equity binge, but they’re still tapping quite a bit. Office of the Superintendent of Financial Institutions (OSFI) filings show reverse mortgage debt reached a new high in June. Canadian reverse mortgage debt is decelerating in growth, but is still one of the fastest growing segments of debt. Reverse […]
Canadian real estate owners are back to borrowing against their home equity. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of home equity lines of credit (HELOC) debt reached a new high in June. Growth is no longer near the peak seen a couple of years ago, but still much higher […]
Canadian households are pushing mortgage growth higher, but not other types of debt. Bank of Canada (BoC) data shows the rate of growth for mortgage debt hit a high for the year in July. Meanwhile consumer credit continued to the lowest rate of growth seen in years. An unusual match, since both segments don’t typically […]
Canada’s Millennials are racking up quite the tab, according to a major credit agency. Transunion Canada released their latest insights on demographic credit trends. Millennials now hold more debt than the Baby Boomer generation, for the first time ever. In fact, they borrowed almost three out of four dollars in debt added to the pile […]
Canadian lenders are scrambling to reboot slowing credit growth, by lowering rates. Bank of Canada (BoC) numbers show the household effective interest rate made a decline on July 26. Rates are sinking this year, recently making the first 12-month decline in 2 years. Even though rates are lower, they are still higher than they were […]
